Johnson Financial Group Inc. Makes New $51,000 Investment in Schlumberger Limited (NYSE:SLB)

Johnson Financial Group Inc. purchased a new stake in Schlumberger Limited (NYSE:SLBFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 980 shares of the oil and gas company’s stock, valued at approximately $51,000.

A number of other institutional investors have also modified their holdings of SLB. Norges Bank bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $1,000,292,000. Royal Bank of Canada increased its position in Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after buying an additional 2,182,706 shares during the period. Sanders Capital LLC increased its position in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after buying an additional 2,085,506 shares during the period. Invesco Ltd. lifted its stake in Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after buying an additional 1,954,620 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after acquiring an additional 1,412,821 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLB. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, BMO Capital Markets decreased their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Read Our Latest Research Report on SLB

Schlumberger Stock Down 0.2 %

NYSE SLB opened at $46.24 on Tuesday. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a market capitalization of $66.09 billion, a P/E ratio of 15.36, a PEG ratio of 0.89 and a beta of 1.64. The company’s 50 day simple moving average is $50.77 and its 200 day simple moving average is $50.72. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. Equities research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.38%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Buying and Selling at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

About Schlumberger

(Free Report)

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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